Kraken’s leadership believes derivatives will remain a key driver of growth, especially among professional traders. Ripley explained that while retail investors prefer spot markets, advanced users and institutions are increasingly using futures and margin products. Kraken’s derivatives volume continues to climb, supporting its strategy of bridging traditional finance with blockchain-based trading.

Ripple Swell 2025 served as a stage for Wall Street institutions like BlackRock, NASDAQ, and JP Morgan to showcase their growing involvement in digital assets. Discussions centered on how tokenization, staking, and blockchain payments are reshaping financial infrastructure. Speakers agreed that institutional adoption has reached an irreversible stage as regulations and market infrastructure mature.

CoinDesk hosts welcomed the “XRP Army” tuning in online as Ripple Swell 2025 streamed live from New York City. The passionate community flooded the chat during the event, showcasing its enduring support for Ripple and the XRP Ledger ecosystem. Their enthusiasm reflects how strong crypto communities have become in driving awareness, engagement, and adoption across major blockchain projects.

Ripley noted that stablecoins are rapidly becoming a preferred settlement tool across the crypto industry. He explained that both businesses and individuals increasingly use stablecoins over traditional transfers like SWIFT or wire payments. As regulatory clarity improves, Kraken expects even greater stablecoin adoption for remittances and global commerce, calling them “a far superior payment mechanism” to traditional banking systems.

Kraken co-CEO David Ripley revealed plans to introduce tokenized equities as the exchange expands beyond crypto into traditional finance. Through its acquisition of NinjaTrader and registration as a broker-dealer, Kraken now offers equities and futures trading. Ripley said tokenized stocks represent the next major frontier—blending the efficiency of blockchain with familiar investment instruments.

Panelists at Ripple Swell marked the anniversary of Bitcoin’s whitepaper by emphasizing 2025 as the “year of payments.” Discussions focused on improving cross-border transfers, stablecoin interoperability, and simplifying blockchain payments for consumers. With volatility decreasing and adoption increasing, experts said crypto is entering its most practical and utility-driven phase yet.

David Ripley revealed that Kraken spent just $5 million on marketing during the 2021 bull market—yet achieved multibillion-dollar growth. Speaking at Ripple Swell, he said the company’s focus on user trust, product diversity, and innovation drove success. Kraken now plans to scale marketing operations, seeing customer payback periods of six to nine months as the platform continues expanding into equities and tokenized assets.

Kraken co-CEO David Ripley announced record-breaking Q3 profits during his appearance at Ripple Swell 2025. The exchange reported a 114% year-over-year increase and a 50% rise quarter-over-quarter. Ripley attributed the surge to strong performance across derivatives, staking, lending, and new products. He emphasized that Kraken’s expansion into traditional finance, including futures and equities, positions it as a full-service financial technology platform.

Ripple CEO Brad Garlinghouse said during Ripple Swell that crypto ETFs are “an institutional unlock” for capital that couldn’t previously access digital assets. He highlighted that the Bitcoin ETF became the fastest in history to reach $10 billion in assets, reflecting rising institutional interest. Garlinghouse believes ETFs will institutionalize the crypto sector and could soon rival the scale of the gold ETF market.

Speakers at Ripple Swell 2025 praised the rapid progress of crypto regulation in the United States this year. For the first time, the SEC and CFTC are seen working in alignment, creating a unified framework for digital asset oversight. Industry participants noted that such cooperation typically follows a crisis, yet 2025 saw progress without financial turmoil—signaling a maturing market ready for institutional growth.

At Ripple Swell 2025, leaders from Wall Street and the blockchain industry came together to discuss the growing convergence of traditional finance and decentralized systems. Panelists highlighted how major institutions are not only investing in crypto but actively building, staking, and contributing to blockchain ecosystems. With regulatory clarity improving in the U.S., many financial giants are now taking a hands-on approach to integrating blockchain into their core operations.

Ripple Swell 2025 kicked off at Hudson Yards in New York City, drawing over 700 of the most influential figures from crypto, finance, and policymaking. Executives from BlackRock, NASDAQ, and JP Morgan joined the flagship invite-only event to discuss the evolving relationship between digital assets and traditional markets. The event’s focus centers on institutional adoption, stablecoin payments, and regulatory clarity—reflecting how deeply blockchain is now embedded in mainstream finance.

Ripple Swell 2025 turned into a defining moment for global finance — BlackRock revealed its tokenization efforts on the XRP Ledger, the White House made a surprise appearance, and Canary Capital hinted an XRP ETF could launch “next week.” The event blurred the line between TradFi and DeFi, signaling a seismic shift in money movement. If Wall Street just went on-chain, the next question is clear — can XRP handle the trillions about to flow through it?

At Ripple Swell 2025, BlackRock’s Maxwell Stein electrified the crowd, declaring, “The market is ready for broader adoption — trillions are coming on-chain.” Stein praised Ripple and other early builders for transforming blockchain into real financial infrastructure, powering tokenized assets like bonds and stablecoins. His remarks signaled that institutional capital is no longer waiting on the sidelines — it’s entering the blockchain era, validating Ripple’s vision of global liquidity rails

At Ripple Swell 2025, GTreasury CEO Renaat Ver Eecke revealed how Ripple’s $1B acquisition is redefining corporate finance. “We’re moving from managing capital to activating it,” he said on CoinDesk TV. GTreasury, which processes over $10T annually, will use Ripple’s $RLUSD stablecoin and On-Demand Liquidity tech to let CFOs move funds globally in seconds — unlocking trillions in trapped liquidity through real-time visibility and blockchain innovation.